Is this a Keiki? A Weird Bulb? Neglected Cat help

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It's a normal growth. I wouldn't repot it now. The time to repot these is during winter dormancy, or so many roots are damaged the plant can be set back badly.

You could consider putting the whole pot into a larger container and backfilling with more medium. If you can keep up with the watering as it is you don't need to do this.